The difficulties faced by German life insurers and pension funds due to the ongoing phase of low interest rates are regularly in the news. Now the situation is coming to a head: the financial supervisory authority Bafin recently closed the Cologne pension fund and the Caritas insurance association. It keeps around 20 of 80 life insurers and a good 35 of 135 pension funds for company pension schemes under “intensified supervision”. No wonder that more and more concerned customers are asking consumer advice centers whether it is better to cancel their policy. However, this is always fraught with financial losses - there are more attractive options.
Life insurance bankruptcy wave? This is how you save your money
2021-01-31T15:33:20.238Z
The first life insurance providers have already been closed, and one in four is under “intensified supervision” by BaFin. Millions of Germans must therefore fear for the contributions they have paid in for years. But there is a way to get your money back.
Source: welt